Finance Fo Managers

Firstly Stakeholder is an individual or a group who has an interest in the success of a business I delivering high results and maintaining the viability of the business’s products and services.There are internal and external

A stakeholder is a person or group that has an investment, share, or interest in something, as a business or industry. This is not just limited to someone who has purchased stock in a company, which is a shareholder.

The main purpose of the financial statements is to provide creditors and investors with a summary of a business financial activity. All statements are prepared at certain times throughout the year. The balance sheet reports liabilities, assets, and owner equity of the company. The income statement matches incurred expenses during a period of generated revenue. The statement of retained earnings reports retained earnings from net loss and net incomes from

The definition of the stakeholder is individuals and groups that are interested in a company and that are affected by its actions. Stakeholders are customers, employees, suppliers, board of directors, owners, shareholders, and government agencies, unions, political groups,

Understanding the finances of a company is important but knowing the significance of the financial statements is crucial to the operations as well. Reviewing the statement of financial position, operating statement and statement of cash flows serve as a guidance to management and executives on the day-to-day activities of an organization (Finkler et al., 2013). For example, the statement of financial position (balance sheet) shows the assets and

The stakeholders are the owners of the company, investors or stockholders. They pay people to manage certain aspects of the firm and trust that the reporting will be accurate and honest.

Financial statements of the company are significant for the investors who would like to venture into the business operation. It gives them the insight whether the business is making profits or it is doomed to fail;

A Stakeholder is person group or organisation that has an interest or concern in an organisation.

Financial statements are a very useful tool for individuals interested in the organization. Investors use the information to determine if it a wise decision to put their money into the organization. Investors need to determine if the organization has been successful and profitable and will continue to be successful and profitable. Creditors use the financial statements to determine the amount of credit that should be advanced to the organization. Employees generally do not look at the financial statements, but if a new executive was thinking of joining the organization, he or she may want to see the potential of the organization to make sure the investors are becoming a part of a successful organization. Management uses the financial statements on a monthly basis to determine which areas of the organization are profitable and which areas of the organization that needs to be discontinued or restructure to become more profitable.

Information given by an entity 's financial performance grant users of the financial statements to assess:-

The (word) stakeholder means any person with an interest in business, someone who can contribute to the company grows and success or who benefits from its success. The various stakeholders in business have differing role and their level of involvement in the enterprise varies

The aim of this assignment is to “Identify the ‘other users’ [of business accounts] and assess the extent to which financial accounting information is of use to managers, and management accounting information is of use to ‘other users’.” The appropriate definitions and roles of financial and management accounting will be given and the ‘other users’ of accounts will be identified. Thereafter, the uses of both financial accounting information and management accounting information will be discussed and analysed to evaluate the extent to which each is of use to the needs of managers and ‘other users’ respectively.

The Purpose of Financial Statements The financial statements of a business are used to provide information about the status of the business, set performance targets and impose restrictions on the managers of the firm as well as provide an easier method for financial planning. The financial statements consist of the Profit and Loss Account, Balance Sheet and the Cash Flow Statement. There are four areas of information, which we can collect from a company's financial statements. They are: Ÿ

A company prepares financial statement to provide information about its financial position and performance. This information is in turn used by a wide range of stakeholders (such as investors, banks, customers, suppliers etc) in making economic decisions with respect to respective economic interest in the company. Typically, in terms of ownership by investment in shares of the company, shareholders though own the company but do not manage it. Therefore, the shareholder and other such stakeholders to get comfort in taking sound decision need independent assurance from the auditors that the financial statements reflect true and fair view of the company affairs in all material respects. Hence, in order to enhance the level of

The financial statements are very useful to all this group of user. Explain each of them;